Wednesday, 1 October 2014
Last updated 11 hours ago
Jan 10 2012 | 10:04am ET
Former Goldman Sachs trader Morgan Sze’s Azentus fund, launched to great fanfare last April, lost 6.8% in 2011.
Reuters, citing two sources with “direct knowledge of the matter,” says the Hong Kong-based multi-strategy fund was hit by a sharp drop in Chinese shares.
Sze launched the fund with about $1 billion in April 2011, the largest Asia launch of the year. Azentus now manages $1.9 billion.
Reuters’ sources say Sze’s fund did well for the first six months of 2011 before coming to grief in September, mostly due to its Chinese exposure, as Chinese stocks measured by the MSCI China Index shed 20%. Most of its losses came from investments in Chinese stocks listed in the U.S.
The fund was down 1.4% in December and 1.7% a month earlier, says the news agency, and begins 2012 with 120% gross exposure (the sum of its long and short positions).
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...